Print

Parkersburg News and Sentinel Editorial: Job killer

Congressional Budget Office projections show Obamacare is about to negatively affect the workforce in a way that may not show up in the more obvious labor-force indicators. Within the next decade, the labor force could be reduced by 2.5 million people, solely as a result of the Affordable Care Act.

According to the non-partisan CBO, more people will likely decide to either reduce their hours or leave the workforce entirely, in order to stay under the income caps for Medicaid and other federal subsidies. "The estimated reduction stems almost entirely from a net decline in the amount of labor that workers choose to supply, rather than from a net drop in businesses' demand for labor," the CBO report said.

In other words, monthly unemployment numbers will not show this change to the labor force. This hit to the economy will fly under the radar.

To read entire editorial, click here.